--(www.USEquityNews.com)-- 03/12/2008 - Broadcasting industry alert provided by U.S. Equity News. Smithsonian Channel continues to increase its distribution with the announcement recently of a High Definition (HD) carriage agreement with RCN Corporation (NASDAQ: RCNI), a broadband, facilities-based competitive telecommunications provider that delivers video, high-speed data, and voice services to residential and small-medium business customers and high-capacity data transport and voice services to large commercial customers. With the addition of RCN, the combined reach of Smithsonian Channel affiliates continues to grow with the channel now reaching 22.5 million multi platform households.
Spanish Broadcasting System, Inc. (the "Company" or "SBS") (NASDAQ: SBSA) recently reported financial results for the quarter and fiscal year ended December 31, 2007. For the quarter ended December 31, 2007, consolidated net revenue totaled $46.2 million compared to $44.4 million for the same prior year period, resulting in an increase of $1.8 million or 4%. This increase was mainly attributable to our television segment, which had a net revenue increase of $1.3 million or 80%.
CTC Media, Inc. (NASDAQ: CTCM), Russia's leading independent television
broadcaster, announced recently that it has entered into a definitive agreement to acquire DTV Group ("DTV") from Modern Times Group MTG AB ("MTG") for a total cash consideration of approximately $395 million. DTV Group operates a national free-to-air television network and a group of 28 owned-and-operated stations in Russia. CTC Media currently expects the transaction to close by the end of the second quarter 2008, subject to customary conditions to closing, including anti-monopoly clearance
EPIC Corporation (OTC: EPIO) announced that it has submitted a definitive letter of intent to acquire a major real estate development located in the Las Vegas strip. The acquisition will be subject to a rigorous due diligence by both parties and the approval of their boards of directors of a formal agreement. This is given as notice of negotiations, but there is no assurance that the parties will be able to reach a formal agreement or that the parties will complete the transaction.
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